You want people to make money. You want people to come to you with their money problems. That’s what brings you business, right? Awesome. But how will you get there that’s the main question?
Being a financial advisory firm, your expertise must lie in helping people make better financial and investment choices. But how do you ensure that the clients come to you? We are here to help.
In this article, we shall tell you the 4 ways to expand the business, attract more clients, and hopefully see the profit numbers pumping:
Focus on great service
Word of mouth marketing is still the best form of marketing for small businesses. We all know Ford, Tesla, Unilever, Pepsi, etc. Those businesses need no marketing.
But a small or medium-sized financial advisory business located at the corner of a street needs to hunt the clients actively. And that’s where the magic of word of mouth comes into the equation.
Your customers are your greatest marketers. The phrase is truest for a financial advisory business. Therefore, offer great services. Not just with great financial advice. But also with the way you respond to them.
Enter into digital marketing
You need to be discovered online. If someone is looking for services relevant to you, your business must pop up in front of them.
You do that by investing in SEO. You do that by investing in social media marketing. The point here is that your presence should be there on social media platforms. You’ll be surprised how many clients you get just by going online in the right manner.
Invest in your online marketing needs. You’ll be surprised to see the results you get for the money that you spend in this direction.
Formalise your processes
This is where many financial advisory businesses struggle. Even with the right resources, they fail to add value to their clients.
One example, for instance, is that they don’t have the right investor profile questionnaire. They rely on old methods to determine their clients and end up delivering shabby performances.
The bottom line is that you need to extract the right information from your clients if you are to craft the right solutions for them. That you can do by formalising your processes. Getting the right questionnaires can be a great start. That will make your processes easy and your clients happy.
Offer online services
You don’t need to restrict yourself to a specific location.
Make a move and expand in the right direction. You just need to manage things right to grow the business. Everything is digital anyways; you just need to leverage it to your benefit.
For instance, you get approached by a new potential lead. You can send them the investment risk tolerance questionnaire and other relevant documents that they shall fill out. Once they return back the information, you can schedule online sessions with them.
There’s a lot of potential in that idea for those who truly want to cash it.
Final Words
Financial advisory businesses have a lot of potentials to grow. Unfortunately, they stay limited because they fail to implement the right growth strategies for their businesses.
Hopefully, the above-mentioned points can give the right direction to your business.
If you are struggling with the questionnaires, then contact us right away. Pocket Risk has provided top-quality questionnaires to hundreds of budding financial advisory start-ups. We can do the same for you!